Ministry of Economy and Finance

Cambodia should continue to see steady economic growth at about 7 percent this year despite potential investor caution that could arise ahead of July’s national election, officials from the Ministry of Economy and Finance (MEF) said on Wednesday. ...

According to the latest forecast from the International Monetary Fund (IMF), Cambodia economy will grow by 7 percent this year on the back of higher public spending and steady growth in construction and tourism. The IMF’s forecast is slightly higher than the figure released by the ...

Tax on nearly 6,000 vehicles across the country has not been paid on time as required, according to an inspection by the Ministry of Economy and Finance’s General Department of Taxation. A press release by the GDT signed on March 16 and released yesterday said the ...

The Cambodia Securities Exchange (CSX) yesterday officially launched a website and an app to help investors and the public achieve a better understanding of the stock market.​ ...

The government will begin to pay out of pocket for severance wages for labourers at abruptly shuttered factories whose owners have fled, effectively enacting a pro-worker policy without further burdening private businesses – albeit at the risk of discouraging good corporate citizenship, experts say. ...

When government-aligned Fresh News reported on Sunday that bilateral trade between the US and Cambodia had increased to $3.46 billion last year, up more than 8 percent from the year before, they weren’t using Cambodian government data. Nor was the state-run Agence Kampuchea Presse using government ...

The Ministry of Economy and Finance held a workshop yesterday to finalise a draft on a sub-decree managing non-tax revenue sources, part of the government’s attempt to improve its revenue collection. ...

Interior Minister Sar Kheng on Monday said the Cambodian government could not afford more passport printing machines to speed up the process of documenting the hundreds of thousands of citizens working abroad, predominantly in Thailand. ...

The government plans to reduce its foreign debt and raise capital through the issuance of bonds, a representative of the Ministry of Economy and Finance has unveiled. “Increasing local borrowing instead of foreign borrowing will improve the country’s trade balance and current account,” said Vong Seyvisoth, ...

The government has created a new interministerial committee to manage the activities of international NGOs, with an Interior Ministry official yesterday saying the body was intended to monitor organisations’ compliance with the controversial NGO Law. ...

The Japanese government on Tuesday pledged to donate two patrol boats to the General Department of Customs and Excise. The announcement was made in a meeting between Economy Minister Aun Ponmonirath and Iizuka Atsushi, director-general of Japan’s Customs Bureau. ...

The Asian Development Bank (ADB) yesterday signed a $180 million package of loans and grants to Cambodia that are meant to improve the country’s roads, water supply and small-scale farms. One $70 million loan will go towards improving 147-kilometres’ worth of flood-prone stretches of National Road ...

The Securities and Exchange Commission of Cambodia (SECC) has decided to slash transaction fees on derivative trading, a move the SECC claims will help spur future trades. ...

The government and the Global Fund have signed a grant agreement worth more than $55 million to implement anti-AIDS and tuberculosis programmes in Cambodia from 2018 to 2020. ...

The Cambodian government recently laid out the framework for the creation of a National Council of Logistics, a specialised interministerial team designed to tackle the high costs of the Kingdom’s logistics sector to promote the efficient flow of exports, according to a royal decree issued ...

The Ministry of Economy and Finance (MEF) recently decided to shrink the tax burden for local microfinance institutions (MFIs) by lowering withholding tax on interest from loans acquired from abroad from 14 to 10 percent, a move that the government claims will keep the massive ...

The government plans to borrow an additional 1 billion through Special Drawing Rights (SDR), or $1.4 billion, to meet its planned budget for next year, bringing the total national debt to $7.6 billion by the end of 2018 compared to the current level of $6.2 ...

An inter-ministerial joint working group yesterday said it would continue its work on resolving land disputes for 540 families battling sugarcane companies in four provinces. ...

The government has borrowed $732.06 million in the form of concessional loans from development partners (DPs), amounting to 74.83 percent of the debt ceiling of Special Drawing Rights (SDR) approved by the National Assembly last year, according to the latest report on Cambodia’s public debt. ...

The government spent far less than half of its approved $5 billion budget for expenditures in 2017 during the first six months of the year, according to a new report by the Ministry of Economy and Finance (MEF). ...

A government project to boost the production of chemical-free vegetables has taken-off, with supplies already available in Cambodian markets, according to an Agriculture Ministry official. ...

Cambodia moved a step closer to becoming an oil-producing nation yesterday after the government finalised its long-awaited production-sharing agreement with Singapore-listed KrisEnergy to develop the country’s first oil field. ...

The General Department of Taxation reaffirmed yesterday that two radio outlets, Radio Free Asia and Voice of America, will have to pay tax, contrary to a statement made by Minister of Information Khieu Kanharith. ...

Phnom Penh Governor Khoung Sreng said the municipality was half-way through a two-week crack-down on pawn shops in order to prevent the sale of stolen goods at the increasing number of second-hand establishments across the capital. ...